Moderating Resale Land Prices Amid Muted Slowing Resale Activity in June

Landed home resale activity in June continued to stall following a quiet May due to the market uncertainties brought about by the US tariffs and global economic volatilities. A handful of buyers and vendors held off on their sales activities and adopted a wait-and-see approach before making decisions. Based on URA Realis caveat data, about 144 landed homes were transacted on the resale market in June 2025; the combined transaction value came up to $780 million - compared to May (164 deals valued at $936 million). Upon an analysis of each transaction and their respective gains, most landed deals were profitable.

There was a bigger proportion of cheaper priced landed homes being sold compared with the previous month amidst a moderation in activity. Based on URA Realis caveat data, about 34.7% of resale landed homes sold in June were priced at $5 million and above, compared with about 39% in May. Meanwhile, 65.3% of the resale landed transactions were priced at below $5 million in June - edging up against the 61% proportion in the previous month.

Chart 1: Price range of private resale landed transactions in May 2025 vs June 2025

Landed home resale prices in June 2025 mostly declined across all regions. The overall landed homes resale prices fell by 7.1% month-on-month (MOM) to $1,794 psf; while prices were down by 3.4% compared to a year before. The month-on-month decline in resale landed prices was led by the fall in prices of city fringe landed homes (RCR) which fell by 11.5% MOM. By property type, landed homes declined across all sectors, detached and terrace homes saw average prices dip by 8.1% MOM and 8.4% MOM respectively in June. (see table 1 below).

Table 1: Average Unit Prices ($PSF) of Resale Landed Homes by month

Resale landed homes performance by property type in June 2025

Table 2: Top 3 resale landed transactions by landed property type, in terms of estimated gains*

Top landed transaction with highest gains (Detached)

The top performing detached home transaction and overall landed transaction for the month was for a Good-class Bungalow along Joan Road in District 10 (Tanglin) that was sold for $30 million, up by about $19.4 million from the last caveat lodged in July 2010 - this reflects an annualised profit of 7.3% after a holding period of 15 years. The GCB property is situated within the Caldecott Hill GCB area, has a land area of over 14,000 sq ft which reflects a unit price of $2,069 psf on land area.

Top landed transaction with highest gains (Semi-Detached)

The best-performing semi-detached transaction was for the sale of a semi-detached property in Namly Avenue in Bukit Timah (District 21). It was sold for nearly $10.5 million in June, with its last caveat being lodged in August 1999. The sale price is up by over $8 million from the previous caveated price, representing an annualised gain of 5.9% per year over nearly 26 years. The freehold property is situated within Shamrock Park landed estate and just a short walk to the Sixth Avenue MRT station. The property is within close proximity to a number of reputable schools in Bukit Timah, including Methodist Girls School, Hwa Chong Institution, Nanyang Girls High School and Raffles Girls Primary School

Top landed transaction with highest gains (Terrace House)

The best-performing terrace home transaction was for a terrace house along Elizabeth Drive in Hillview neighbourhood (District 23). The freehold property was sold for $7.6 million, reflecting an estimated gain of over $6.2 million, representing an annualised gain of 9.7% per year from its last caveat lodged in December 2006, with a holding period of nearly 20 years. Tucked away in a tranquil corner of Hillview, the property offers a peaceful retreat from the city's hustle and bustle.

If you are looking for high-end homes or good class bungalows in Singapore, contact PropNex's GCB and Prestige Landed department for buying and insights on the landed residential property market.

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